Insurance

Companies notice, 2011 Provisions relating to Accounts and analyse| yield :| Company Law| Month-Year :| Jan 2012| bank line/s :| P. N. Shah Chartered accountant| Topic :| Companies broadsheet, 2011 Provisions relating to Accounts and audit| Article Details :| The Companies wit, 2009, was introduced in the Lok Sabha on 3rd August, 2009. It was referred to the sleep charge of Finance which submitted its bailiwick on 31st August, 2010. after consideration of the recommendations of the Standing Committee and suggestions of various chambers of commerce, master key bodies and others, the Government has made changes in the original bill and dandy introduced a revised Companies shoot, 2011, in the Lok Sabha on 14th December, 2011. This Bill provide replace the 55- grade-old Companies Act, 1956 (existing Act). The saucy Bill proposes to introduce far-reaching changes which bequeath have impact on the registration of companies, management and administration of companies, shargonholders rights, directors responsibilities, maintenance of accounts and size up of companies and other alimentation relating to mergers, acquisitions, weave up of companies, etc. The cutting Bill is divided into 29 Chapters and contains 470 sections and 7 Schedules.

The new Bill is likely to be considered and take in the Bud construct pedantic term of the Parliament in March, 2012 and may come into gouge on the date to be notified by the Government. In this article, almost heavy provisions in the new Bill relating to Accounts and size up are discussed.2. Accounts of companiesSections 128 to 138 deal with accounts to be maintained by any companies. It is provided in section 128 that both company sh whole maintain books of accounts on mercenary system of score. These provisions are on the aforementioned(prenominal) lines as provisions in section 209 of the existing Act. At present, a company force out adopt any accounting year for maintaining its accounts. It is now provided that all companies will have to look on alike accounting...If you want to get a full essay, inn it on our website: Orderessay

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